In Europe the market is being shaped by regional brands, such as the leader in permanent hair removal, Lumea, by the Dutch-based Phillips, and the anti-ageing device SQOOM by Germany's Schick Medical.

The US retains its global market share lead with growth nearing 20 per cent in 2012, driven by new product launches from existing marketers.

Asia calling

Yet it is in Asia where the real success is coming, as the Chinese market boasts nearly a 100 per cent increase in 2012, and Doskow says his is because in Asia truly multi-functional devices will become the norm rather than the exception.

The Chinese market's extraordinary gain is partly attributed to the aggressive growth of market leader Nu Skin, as well as the entry of Procter & Gamble's Olay Pro-X and SKG in China; although with the market still in its infancy, this is also a key factor.

“The Asian market in particular is still essentially nascent, and many multinational companies are only now entering the market,” continues Doskow.

“Yet Asian OEMs are already serving the global market through parts manufacturing or producing private-label products for other companies, such as South Korea's Lotts manufactures devices for the Schick Medical's German SQOOM device."

Differing success

Doskow says that although many major international brands operate pan regionally, overall brand success differs from region to region.

While Nu Skin leads the market in China and South Korea, seven of the top ten brands in China are local in nature.

In South Korea, second place is held by local Lotts with over 13% of domestic market share. Japanese brands Ke-Non, Ya-Man, and ReFa are claiming just about one-third of the market share in Japan.

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